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Endowment Shocks and the Real Exchange Rate Consider the endowment version of the TNT model. Suppose the endowment of tradables increases in period 1. Analyze

Endowment Shocks and the Real Exchange Rate

Consider the endowment version of the TNT model. Suppose the endowment of tradables increases in period 1. Analyze the effect of this innovation on the real exchange rate in periods 1 and 2, de- pending on whether the change in the tradable endowment is temporary or permanent.

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